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on public servants, wasted money spent in the financial crisis and the only thing is higher taxes. >> there is an oversight of spending tax dollars, we have known that for a while. with the story with school superintendent, national average 162,000 to be a school superintendent but some of these guys are running half a dozen schools, less than a million students, some of them are making 200,000 or more. it is amazing there is no transparency, little oversight for the public servants will scream about the private sector. look to your own backyard. charles: the same ideology that argues about corporate salaries uses that as an excuse to bump up their own salaries. digging a were using to bump up your salaries? connell: thank you, charles, appreciate it. dagen: i am taken mcdonnell. connell: i am connell mcshane. thank you for joining us and this is what is keeping washington up at night. preventing a budget deal from happening. dagen: a big day for bernanke and company. is it time for the central bank to pull back on the bond buying? connell: and the taiwan factory making the recall
taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of
from cyprus and concern about deposits being taxed obviously set off worries on wall street abroad and here at home obviously. sandra: opposite end of the spectrum, jcpenney, the retailers, jcpenney a huge rally today, nicole? >> a couple of reasons. isi group talking about the fact that they might turn into a reit-like entity. oppenheimer talking postively about jcpenney. david: apple, apple, even though the market came down i think apple stayed up about 12 bucks. why are they doing so well on the eve the samsung announcement? >> that is pretty amazing. once the news was out about samsung it took away some uncertainty. apple bucked the trend. sandra: best buy seeing a nice top. that was an up stock on a down day. >> best buy, the last quarter was a great one. they got positive analyst comments as well. jpmorgan initiated coverage with overweight rating. [closing bell rings] david: the bells are ringing. we're not at absolutely postively lowest point of the markets but very close to it as we see a down market. dow jones industrials down 61 points on the beginning of this trading we
on the failed idea that giving another round of tax cuts will somehow triple down and lift up all the other boats. we know that has not worked. peter: the senate starts its votes on its budget tomorrow. i will start here before i talk about easter bunnies and march madness. connell: we do not want that, peter. we never want you to get into trouble. dagen: that does not get you into trouble with us. we go as far as talking about audio parts. right now we want to talk about funding the government. 68% of americans say it is a problem. connell: monica crowley is here with us today, as is leo kelly. interesting because of what we have seen in the stock market. today, with the market pulling back with all-time highs, it is not really about the stuff peter is reporting about. >> cyprus, his little country that no one really was paying attention to a couple weeks ago certainly has no whole world turned upside down. what the market has really come to expect from washington is delayed until the last minute, but come up with a resolution. the threat goes away each time they do this. dagen: speaking o
about cyprus and what they'r they are doing, thet off this decision to tax or confiscate the bank accounts, but what happens now? how will they please those at the imf and the european union? big questions remain and that is why you see the red arrows. but just squeezing out a gain for now. lauren: investors also applied to the safety of u.s. treasuries today rallied for a third day pushing the yield on the 10-year note to a two-week low. david: without the fed announced what they are going to announce on wednesday. oil closing below $93 per barrel, this is the first fall for crude in four sessions, dropping 1.7% settling at $92.16 per barrel. lauren: and you have to look at the retailer's underperforming the market today especially the key names. american eagle, abercrombie and fitch, all falling greater than 3%. david: the stocks are much the same. rejecting the confiscation of bank accounts but there are things going on here in america that are not as friendly. the chief research officer joining us with a disturbing new report, one that shows the united states is falling behind
national debt, and even a bib llically based call r a flat tax. that's what i love. is he the conservative that can save the gop? here is the aforementioned dr. ben carson. director of the pediatric division at john hopkins university. and with us this hour, cnbc contributors keith boykin. as always, dr. carson, great to see you. i'm reading one of many articles that you're retiring in 100 days. i wonder if you would share future plans, especially public service. >> i have a lot of things on my agenda. i've got ten international trips. a multitude of speaking engagements around this country. we're working very hard with the college fund. we're in all 50 states. we're putting in reading rooms all around the country. particular particularly targeting title one schools. >> as you know, senator carl levin is retiring. any interest in that open senate seat? >> people keep trying to put me into politics. i don't believe i fit the mold. i don't believe in political correctness, and i certainly don't believe with getting into bed with special interest groups. i just don't believe i'd fit. >> how a
this week. spending cuts stay in place many pet projects no longer on the table. big tax hikes gone. dare we say republicans win? with that as the back drop stocks open a little higher today and gold will be lower. "varney & company," yeah, about to begin. ct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-send stats. [ indistinct shouting ] ♪ it's so close to the options for... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ from td ameritrade. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine everday of the week. >> it is monday, march 25th, cyprus gets its bailout. but the country's in financial chaos and faces an economic depression. in short, here is what's happened. angela merkel wins, the germans win
because of that deposit tax component. now, the president is currently meeting with the leaders of the political parties. of course, what he's trying to do is to strong arm and to persuade them into voting for that deal because the other alternative, yes, that is bankruptcy for this country, which has only 1 million people and only makes up 0.2% of the entire eurozone. the debate and the vote on that bailout deal will be kicking off in around four hours from now at 4:00 p.m. local time. thou, a lot of uncertainty as to what the outcome of the vote will be, given that nobody has a clear majority. having said that, there is, of course, the chance that some of the lawmakers who have been wavering could have been appeased by the talk that some of the taxes for the smallest depositors could be lowered. now, "the wall street journal" has reported that those deposits between zero is and 100,000 euros could be taxed at only 3% as opposed to 6.75% previously. now, the middle bracket would be 100,000 to 500,000 euros. that could be taxed at 10% and then anything in excess of half a millio
've never paid taxes in my life, no one wants to hear that kind of talk. warner: the irs just heard you and you will be hearing from them, man. . >> idiot. warner: very good, nick. connell: good one, nick. imus: never paid taxes in my life. okay. well, what else, warner, anything? >> well, my time is up, thank you. imus: your time is up. wilson pickett would have been 72 years old today. of course, he's not. he did record this before he left us. ♪ mustang sally ♪ ♪ guess you better slow your mustang down ♪ ♪ what i said now ♪ ♪ mustang sally now baby ♪ ♪ oh, lord, guess you better slow your mustang down ♪ ♪ oh yeah, you been running all over town now ♪ ♪ oh, guess i have to put your feet on the ground ♪ ♪ what i said now ♪ ♪ imus in the morning ♪ >> legalized theft in a country you barely heard of and your money takes a hit. good morning, everyone, cyprus is the country. the seizure of private bank deposits is the issue. europe says, if you want more bailout, you cyprus people, then everyone with money in cyprus must pay a tax on all bank deposits ha
premiums and insurance costs are rising sky-high. so are taxes. and small business costs are reducing profits by as much as 65% according to one small business owner we will talk to tonight. and the virtues of a free market capitalism that we talk about every night on this show are now forbidden fruit at stanford university. a popular long running pro capitalist course at that school has now been cancelled. what is up with that? "the kudlow report" begins right now. >>> first up, a major vote in the cyprus parliament helping to get that country closer to a teal with the european union. michelle caruso-cabrera joins us from cyprus again this evening with the very latest. good evening, michelle. >> reporter: larry, lawmakers here in cyprus taking a huge step tonight to prevent the financial collapse of their country. they pass ad law that will allow for the restructuring of their banks. this essentially means their sickest and largest banks will be down sized and made more healthy. this was a key demand by the european partners in order to secure a 10 billion euro bailout for the countr
a plan for the new budget, including new taxes. how much you ask? reaction from one of the top republican leaders in the house on that dollar figure. martha: how about this? there is a report out there that a hacker is giving out confidential memos on the terror attack in benghazi. how could this have happened when lawmakers and the victims families still do not have any answers in terms of what they have been demanding? big questions this morning. john bolton on that. >> the security in benghazi was a struggle and remain ad struggle throughout my time there. the situation remained uncertain and the reports from some libyans indicated it was getting worse. diplomatic security remained weak. in april there was only one u.s. diplomatic security agent stationed there. ♪ [ male announcer ] help brazil reduce its overall reliance on foreign imports with the launch of the country's largest petrochemical operation. ♪ when emerson takes up the challenge, "it's never been done before" simply bemes consider it solved. emerson. ♪ given way to sleeping. tossing and turning have where sleepless
to be? the monopoly man smoking a cigar? let's take a look at the euro. parliament voting to tax -- to not tax bank deposits. that's the latest word. a very fluid situation. much more on "closing bell" next. >> thanks very much for watching "street signs." stick with us. see you at the same time tomorrow. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. the dow and the s&p 500 threatening to do something we haven't done all year. decline for three days in a row. >> shall we panic? i don't know what to do. i'm bill griffeth. stocks are lower. they've been lower all day. we've had just in the last few minutes here, to see if parliament rejected that one-time tax on bank deposits, which was a condition of its bailout plan. now investors are concerned maybe a default by cypress could intensify the euro zone's debt crisis. >> morgan stanley's adam parker, who had been negative says, no, no, no, i'm going to raise targets. in fact, one of the biggest bears turning bullish. why this market still has plenty of room to r
, the senate votes to repeal an obamacare tax. there's a headline for you. good morning, everyone. it's the medical device tax and the vote to strike it down 79-20, overwhelming abipartisan, the it helps to fund obamacare, upwards of 40 million people will face huge health insurance cost increases next year. could it be that obamacare is unravelling? don't forget cyprus, civil society is unravelling there. they're running short of gas and basic supplies and they've got 72 hours to come up with big money or else. don't worry, stocks will be up again just a few minutes from now. "varney & company" about to begin. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. sta
spending and increases taxes, is what the american people voted for back in november? is that what they voted for? >> do you know there's no one that challenges that america's on the road to recovery. if you think for one minute just saying that you are cutting spending, that doesn't mean that you are cutting savings. it doesn't mean you're not -- more money. >> neil: even under the -- we're cutting the growth. are you saying -- >> you're talking about -- jo congressman, yes or no, do you think cutting spending should be a goal? yes or no. >> should i think cutting -- yes, it's how you cut it, of course. everybody believes in cutting. >> neil: what would you cut? >> there's so much money that's already been cut. if we had the obama law, things were cut there. ryan knows it, because he took out the savings we had in the president's bill. even though he's against the bill, somehow he found it that the cutting of savings. >> you're saying what she wants to do is fine with you, even though it effectively calls for more spending, more taxing, and doesn't address these issues? >> i don't
are losing due to this tax. >> hank smith, it is pretty extraordinary depositors have to pay for a bailout they didn't necessarily authorize. what do you think about what peter said? is this a recipe that would be used elsewhere in the world? >> i highly down it, maria. look, i think we should take great confidence in our banking system now compared to where we were four or five years ago. our banks are very healthy. t.a.r.p. was a good thing. it protected the financial system and the confidence in the financial system. and our banks are in great shape -- >> they're in the worst shape they've ever been. >> oh, no. >> they're a few interest rate hikes away from insolvency. that's why the fed is keeping rates at zero. >> wait a second. peter, you're saying the banks are a couple interest point ace way from insolvency? >> why to you think when the fed did the stress tests they didn't ask the banks to stress test a collapse in the bond market? they only looked at the stock market or maybe real estate. when interest rates rise substantially, the major banks are going to fail. their balance shee
a silicon valley insider and former yahoo coo daniel rosenzweig on the push for the sales tax. what impact will that have on retailers? you'll want to hear his answer this morning and first, why dollar general can make some sense for your portfolio and take one more look at futures this morning. looking at a pretty decent open for a short workweek this day as we have good friday off here. live from squawk on the street from post 9 when we return. your big picture. but e with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> shares of dollar general rising in pre-market tradex clueding items that yrms 97 cents a share, beating wall street forecasts and revenues essentially in line with the company benefiting from increased food sales and jimmy,
with your 401(k)? well, over the weekend, european policymakers agreed to bail them out by imposing a tax on the savings accounts of people who live there. that's right. they're actually taking the bailout money directly from people's bank accounts. of course, that sent folks running to their atms to withdraw their money, sparking a panic. now there's concern the same thing will happen in other parts of europe. and even though wall street is hanging tough, could the cyprus crisis impact us down the line? tom foreman has a fancy show-and-tell to help break it all down for us. tom, thanks for joining us. i understand why cypriots are worried, but why should americans be? >> because this can rattle your wallet. >> really? >> look at this over here. i start with the rhetorical question. what do shreveport, louisiana, knoxville, tennessee, have in common? they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, s
meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignant they weren't brought into talks. let's hear what he had to say earlier on about the state of the current talks. >> first meeting very constructive. very honest discussion. we underscored how difficult the situation is and we'll now continue our discussions to find a solution by which we hope we will get some support from russia. >> in terms of that support, are we talking about a change of terms for the current existing 2.5 billion euro loan and an extension of 5 billion loan in addition to that? >
not confiscate it as cyprus tried to do however there are plenty of ways to get at it. taxes, you're forced to invest in government securities and under the guise of the financial systems, yes, it's a valid concern and the bank defenders will not acknowledge it u and we've got the dow up 39, 40 points at the moment, a shrug from the stock market at the moment. >> yes, it is. stuart: you think this has no impact on the stock market, more on gold and banking stocks, you think? >> i think so, again, what it does, it calls into question the integrity of the financial community and that's what central bankers and legislators fear most. it's not the markets themselves, it's fear of the market and fear of stability because that is what drives confidence and one thing that bernanke can't afford to lose right now. stuart: here is what i think might happen. a no vote, the russians step in, europe says we can't have russia, and they step in. >> i think a power play and progression of events, but i would not count out the chinese in this one. stuart: keith fitz-gerald. thanks. the latest proposal from
and the latest deposit tax scheme. happy anniversary, apple dividend and it was a year ago when the tech giant announced its dividend in 17 years. will apple succumb to the bigger payout as it faces stiffer competition from samsung. lululemon doing the downward facing dog with the transparency with the iconic black yoga pants prompting the retailer to cut sales guidance and boeing clinches an order from ryanair. of course, we begin with the markets. the dow and the s&p 500 hoping to avoid their first three-day losing streak of the year. wall street will be paying close attention in about three hours from now. that country's parliament scheduled to vote on a proposed tax on bank deposits and the controversial measure appears set to go down in defeat. here in the u.s., policymakers begin a two-day meeting in which they're expected to hold current policy. this is one of the meetings where we will get a press conference and people will be hanging on every word and every use of every adjective coming out of the fed chairman's mouth. are you expecting anything? >> i think that, frankly, we are looki
cypress? >> anything is possible. you know, i think the outrage over this deposit tax is about the honesty of the approach. if you think about it, citizens around the world suffer from that tax. in the united states, how long have we d 0 #% interest rates in the united states? how much money have savers lost who keep money in the bank because they have not received interest on depositsall these ars? what about prices? because the federal reserve does quantitative easing, food prices go up, gas prices up, and deposits lose value. at least with the tax in cypress, it was more honest. the government up front saying we're going to take your money. we're doing it secretly, and i think the honest approach is better. shibani: they make parallels in cypress, and what you mentioned happens here in the u.s., but the levy on bank deposits, this is what is causing a storm, and it's really getting people upset. are you concerned about any kind of precedence this could bring into the industry into europe and what it could do to banking confidence as a whole because when you start to have runs on banks a
country to get a bailout. very controversial because it includes a tax on bank accounts. over the weekend, nervous cypriots ran to the atms to with draw large sums. lawmakers holding a hearing today in the u.s. on the us airways/american merger. a senate judiciary committee looking into the impact the deal might have on competition. the ceos of both airlines will appear. many analysts don't expect ticket prizes to rise, because there isn't much overlap between usair and american. still airline mergers are often heated and messy. complaints about lost bags, screwed up reservations, delayed flights typically soar after two airlines combine their reservation systems. we'll continue to watch the big airline merger. >> always has the potential to be a hot mess. >> yeah. >> take a look live at the vatican. the pope now greeting the leaders from around the world. we'll tell you what he says in his next -- before his inaugural mass this morning. take you back live to rome coming up next. and then today marks ten years since the invasion of iraq. coming up john's powerful conversation with america
going to go back to the original plan of taxing deposits. i am toll that's not going to be submitted to the troika. that may be the pipe dream of some in parliament. ladies and gentlemen, back to you. >> thanks, michelle. i was looking at the european bourses and i mean, if they can't sell off on this, and it's on -- you know, it's 0.2% of their economy and, you know, we're worried about whether there's any ripple all the way over to us. >> it may want be an instant market reaction, though. it may be something that's more of a concern about whether there would be other countries that step out of the eu. >> don't you think the markets could anticipate whether there would be further trouble or not? >> i don't know. i think this is -- >> we would be seeing it if it was really -- if they he can't sell off in europe, we shouldn't be looking at it at all for our markets here. >> no. michelle, what's that? >> i know you're over there, but you don't care. >> the one ripple effect i can think of is -- the one ripple effect i can think of is that if when they wind down this bank, there's some
. we don't believe that we ought to be raising taxes on middle income americans, which is exactly what the ryan budget will do. if you are going to sort the voucherize medicare, and then say to them with this voucher, you shop around, but then i've got to make up the difference with the insurance, then that's raising taxes on people who are on medicare. at the same time, you cutting taxes to people in the upper income categories. then we want a block grant, medicaid. that means that there are seniors who will find themselves being shopped around from state to state to find which nursing home will be able to take them. that is the kind of stuff that we ought not have. we ought to have a national medicaid program, a national medicare program, and it should be a guarantee. it should not be a voucher to shop around to insurance companies. >>> but congressman, there's going to have to be compromise before anything gets done. from the president's vision, if there is to be another grand bargain, it would require changes on entitlements. are you and the other members of the democratic caucus w
a proposed online sales tax. [ man ] i got this citi thankyou card and started earning loads of points. we'll leave that there. you got a weather balloon, with points? yes i did. [ man ] points i could use for just about anything. go. ♪ keep on going in this direction. take this bridge over here. there it is! [ man ] so i used mine to get a whole new perspective. [ laughter ] [ male announcer ] earn points with the citi thankyou card and redeem them for just about anything. visit citi.com/thankyoucards to apply. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. [ male announcer ] when you wear dentures you may not know it, but your mouth is under attack. food particles infiltrate and bacteria proliferate. ♪ protect your mouth, with fixodent. the adhesive helps create a food seal defense for a clean mouth and kills bacteria for fresh breath. ♪ fixodent, and forget it. ♪ been waiting for the price then hurry, sleep train's beautyrest and posturepedic clo
banks. well, the people protested and lawmakers unanimously voted no, no taxes on private accounts. so now what? welcome to the rescue. the country has 20 billion in cypriot banks and wants to top the natural gas reserves. the finance energy advisors immediately hopped on a plane to russia. move over, harrison ford, vladimir putin might be the hero of this story. "varney & company" is about to begin. and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef bere opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find se good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >> it's wednesday, march 20th, the first day of spring. well, the season may change, but the same winds are blowing in washington. the white house continues to insist on maximum pain from sequester cuts. we're seeing more cuts used for political reasons instead of cutting back on things we don't need
taxes on the wealthy, put through a payroll tax increase, entitlements. we've got two out of three going. we had the president and congress raising taxes on the wealthy. i don't think bernanke wants to be the fed of 1937 because the recession came back aggressively and it was only world war ii that made the hiring come back. he doesn't want to be the guy -- he'd rather be second-guessed by all the bears who come on and say he's got to tighten because my short positions aren't making any money. he's not responding to the people who are short. he's actually responding to the american people. old-fashioned kind of guy. >> in terms of the reaction in the markets after the ben bernanke news conference, was that surprising at all that, for whatever reason, for whatever he said, the markets managed to rise and actually reached the highs of the day afterwards? >> i think there were a lot of people who expected that he would put in some language that just says, we're not going to keep rates low indefinitely because we see real estate, affordability is fantastic. you pick up the front page of the
a one-time tax on bank accounts. why investors are around the world including the united states are growing more concerned about what is happening in cyprus. >> we're following a developing story in nevada where a military training exercise has ended in tragedy. the marine corps says seven marines were killed in an explosion. authorities investigating the exact cause which could include a related traffic accident. >> all this happening at hawthorne army depot in western nevada, 140 miles southeast of reno. helicopters brought in to take those patients to area hospitals. >>> at least 48 people today were killed in a wave of deadly attacks across iraq. >> in all, 17, yes, 17 car bombs, 7 roadside bombs and 2 shootings, this all coming of course on the tenth anniversary of the u.s.-led invasion of iraq. >> a live report from baghdad at the bottom of the hour. ♪ >> the trumpets sounding in the vatican, today marks the official start of pope francis' papacy. >> thousands of people, francis was inaugurated. the bishop of rome. >> francis cruise through st. peters square, in an open
price. tracy: have you felt the impact of the rising payroll tax? some people say, no, i am not one of them. we have a surprising result of a new survey ahead. former nfl grbac and winery owner group bledsoe is here and is lobbying efforts to allow direct wine sales. ashley: let's take a look at battles as we had to the break. the dollar increasing in value. gold moving lower as a result. we will be right back. ♪ it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every daof the week. gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone but her... no. no! no. ...likes 50% more cash. but i don't give up easy... do you want 50% more cash? yes! yes?! ♪ [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase, plus a 50% annual bo
at conocophillips. >> there's an opportunity to generate a couple of trillion of dollars in tax revenue over the next 20 years. there's opportunity to generate millions of additional jobs. >> well, believe it or not, joining us right now is former nfl quarterback drew bledsoe. he's an investor in a company called ecosphere, which is making a big bet on fracking, and more specifically, drew, it's about the cleaning of the water that's used in the fracking process. it's an environmentally clean process, which has a lot of people worried about the impact fracking has on the environment. this is a possible solution, i guess, yes? >> it is, exactly. i help lead an investment group and funded some brilliant scientists down in florida actually a few years ago. our technology uses no chemicals. we actually in the past since 2008, we've cleaned over 2.8 billion gallons of water, which has eliminated 1.3 million gallons of chemicals. we allow these companies to, first of all, clean the water before they use it the first time, and then also recycle it and reuse it in their process. so we're closing the
reform the tax system and entitlents. perform defense and have a rational rational and reasonable defense. >> why in the world is the president of the unid states not moving forward with a budget that would be a blueprint o resolving those proposals? >> the words thaseem to be operative here are cowardice or opportunism. it has to be one of the two. >> to do the wrong thing continually is not the act of a coward. lou: are you saying that the president is incapable of doing the right thing? >> i'm comparing how talented this man is. >> why doesn't he apply that? you know, that turns out to be laughable. the odds are empirically before him. you know, that is just unreasonable. >> there is another word we are leaving out, which is ideology. the republicans are rightly not going to agree with that. >> i think that when the senate passes a bill, you hammer things out. the one yowantregular order. >> that is right. lou: all rig, my goodness. i do want you to chat with me about the balanced budget. he does it in five years. rand paul's budget. very quickly, the names of those departments. educat
, which is to tax depositors below 100,000 euros. exactly one week later, that idea is completely dead. it's not going to happen. however, if you have uninsured deposits, over 100,000 euros in either one of the two banks that are going to be restructured, you are going to suffer severe losses, anywhere between 30% and 70% depending on which bank. equity goes to zero. junior bondholders to zee he row. senior bondholders for the most part to zero depends on the bank. what's the impact for investors? if you are an investor in european banks, you are on notice. every single bailout that has happened, your protection has diminished step by step by step. this is by design. it is europe's stated goal that by 2018 bailouts will not be a burden of the taxpayer. they will be born by the private sector and the investors in the questionable institutions. these banks will likely see interest rates rise as a result of this, maybe the countries that they're in. the question is, is this going to cause broader risk or force discipline and responsibility or both? >> additionally, european decision making on
to collect sales tax from all out of state internet retailers will take place in the senate today. inevitably, it has a lot of support from the big box retailers in particular. let's bring in john harwood who is live from d.c. though this may just be a symbolic vote, weir to are told john. >> symbolic, but not meaningl s meaningless. it's a spring training of sorts to test opinion within congress on various causes. we saw a vote yesterday on the budget resolution, on the repeal of a medical device tax that was included to help finance the national health care law in the early part of the obama administration. the reason it's spring training is that budget resolutions themselves are not lost. so these are not binding votes, but they're a way to test sent ims for what they make later on and that's what we're seeing on the online sales tax situation. 48 states already have laws on the books requiring online retailers to collect state sales tax, but those laws are often ignored and you have a bill that has some bipartisan support that would require all states to collect those taxes. if split, th
cartwright campaigned on the environment, corporate tax reform and openly embraced the president's health care reform. something his democratic rival voted against. cartwright won the democratic primary by double digits and went on to easily beat his republican challenger. joining me, congressman matt cartwright. also joining with us fellow freshman who we met a few weeks ago. we save the biography a little bit. indiana republican congressman luke messer, president of the republican freshman class. congressman cartwright, you are one of four presidents, i need to get that clear, right? have you guys decided how you serve? >> that's -- we have. the first year is going to be split. we have co-presidents the first year between me and a terrific congressman from san antonio, texas. joaquin castro. we'll be co-presidents the first year. the second year will be michelle luhan gresham from new mexico. and a terrific congressman from maryland, john delaney. >> who we met just last week here. congressman cartwright i want to start with you. i know you guys had a bipartisan meeting last week with b
of that whole business, in terms of taxing depositors, and we know that we continue to have issues in terms of the debt crisis. we are not, necessarily, seeing solutions there. >> i think you see -- if that fear were true, you would see it reflected in the peripheral european countries. i think they mark scyprus as a special case. >> mark, how are you investing at this point? you've got $54 million under management there. you've been bullish. do you want to put new money to work here, even though the market is up 10% year-to-date? >> short answer, yes, maria. the fact of the matter is, we think the fundamental underpinnings, particularly domestically, continue to be encouraging, and we're encouraging investors as a result of some of the volatility we've had in non-u.s. equity markets, to begin the scale-in there as well, because we think valuations are even more attractive. but i do think this cypresicyprg could be a big deal. the precedent it could set relative to marketdowns of small account deposits in other peripheral countries, particularly spain and italy. and the last thing we need t
of the big ones, they can't be seen as the party of no. it stands for taxed enough already. we understand we want to draw a line in sand and not tax anything else. at some point you have to be for something and some point have to get people on your side to your mission and vision and move legislation. you can't just be sitting up there pounding your fist, saying no and pointing to constitution. while i love and respect the constitution, you have to use the that to bring people on to your side, not turn people off. that's an issue. as far as rand paul's concerned, look, libertarian as though he may be, he's got some issues and stances that could bring some people on to the conservative libertarianism. i don't know what that is, either, by the way, goldie. he could bring people to that side. goldie also pointed out there are big issues he has about civil rights and things like that that are nonstarters that no one brought up in the last few weeks since his filibuster. >> so, angela, republicans have talked a lot about how they can do better among women voters. senator ted cruz recently did a l
. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> this morning my question. what are 30,000 students in chicago supposed to do now? plus, obama care three years later. and the secretly recorded nypd stop and frisk bombshell. but first, this is not a test. we are experiencing a serious uterus emergency. ♪ good morning. i'm melissa harris-perry. ladies, it is time to gird your loins again. remember that hibt that we dropped to the national republican lawmakers on election day, the one that responded to their attempts to man handle our uterus by a resounding defeat. it seems the friends at the state house level have missed the memo. while congressional republicans finally managed to make nice tw the ladies by passing the violence against wo
. nationwide property taxes rose in the housing collapse and beyond, but one item never fell, that's paying for school superintendents funded by your taxes. a fox investigation finds school superintendents are not just among the highest paid government workers in the country, but they increasingly get six figure pay and half million range, and it's ten times what teachers get. we found in a dozen states, school school superintendents paid more than what governors are paid to run the state including new york, new jersey, california, ohio, illinois, and washington state. we also found that four out of ten new york school superintendents get 200,000 annually, more than the pay for the governor quo moe and more than the average of 162,000. two school superintendents in new york made half a million bucks overseeing seven schools each. the governor joked about that. you know, i'd apply for that job, and now, gerri, there's little oversight of school superintendents' pay, and they are calling themselves ceos. in fact, schools now routinely use corporate pay models for school superintendents' pay g
is it that allowed or condoned or suggested the idea that the lower threshold of 100,000 euros should be taxed? >> listen to the statement out of the european commission. one of the myriad of bureaucrats in brussels. the commission made it clear in the euro group meeting before and they capitalized before, the vote in the cypriot government that an alternative solution would be acceptable and preferably one without a levy on deposits below 100,000. the cypriots did not accept such an alternative scenario and they squarely placed the blame on the guys in the parliament building behind me. so we'll see what happens. the breaking point is at some point we're not going to keep stuffing the atms with money. and they'll have to figure it out and close down some banks, et cetera. >> i respect the detail that you've been through, but this market clearly believes that the deal will get done and the banks will get propped up with international aid. we're up 72 points on the dow. nobody in the market appears to be worried about it and we haven't seen a big move on bonds today. how do you reconcile that w
to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> can $10 million make a bunch of stuffy old men less stuffy? less old? less male? it's monday, march 18th and this is "now." >>> joining me today here in washington, d.c., former white house press secretary, and msnbc contributor, robert gibbs, national political reporter at the "washington post," malika henderson, bbc world news anchor, catty kay and "washington post" columnist and msnbc political analyst, the inimitab ablable eugene robinso. >>> four months after the gop's loss at the election, the results are in, cause of death, massive full-body trauma. >> our message was weak, our ground game was insufficient. we weren't inclusive. we were behind in both data and dig
up, when they originally, why don't you tax depositors. this reduces that. secondly, it also protects everybody under 100,000 euros. everybody in both banks stays protected underneath the insurance threshold. now, who's going to end up getting taxed, levied, taking a haircut, anybody who's got over 100,000 euros in the account. they're going to probably suffer on-paper losses of 30 to 40%, maybe 50%. for that, they'll be given stakes in a new bank, in the new bank that will hopefully over time give them money or the wind-down of the assets of the old bank, the bad bank will pay them off over time. that's the situation. the employees are angry because they're worried they're going to lose their jobs. it's quite possible, because once you have two banks come together, what do you do? you get rid of branches, you have synergies in employment as the institution merges the together. the employees here are very, very angry about what they've heard. >> it's not the family. it's germany and other countries. they are not our friends. >> you want to leave the euro? >> yeah, of course. >> we are
issue is whether loving and committed same sex couples who served their country to ho pay taxes. some of whom are raising families, whether they should be able to take part in the fundamentally american freedom to marry. by the way those we talked to out there in the snow exclude included the first same sex couple in california to marry when it was temporarily legal. >> shepard: how do people plan to situate justices. >> in the california case of course they are going to argue the courts should not overturn a majority something california voters said they wanted a ban on gay marriage in their state. when it comes to the federal law, they also believe the justices are not ready to completely redefine something that has been at the foundation of society. here is brian brown, president of national organization for marriage. >> i don't think the justices, the majority of the justices are going to want to launch another culture war and are going to respect the right of voters to decide their future to decide something as simple as that it takes a man and woman to make a marriage. >> and th
citizen pay a tax on their bank deposits whether they wanted to or not. they would take that from the savings accounts. this is the first time we've seen a eurozone bailout structured in such a way. if it passes. if it doesn't, cypress says it will grow bankrupt. right now minimal effects on our markets here at home. but the dow is trading lower. here is background on cypress. it is at the eastern end. mediterranean sea, 30 miles south of turkey. you see it on the map. it is a very small country, smaller than the state of hawaii. its population of a little more than a million people is roughly the city of dallas. its gross domestic product of $23.6 billion is about the same as the state of vermont. there will be a quiz on all of this later. charles payne, fox business network around ceo of w street.com. charles, a little country. why such a big deal? >> it is such a big deal for several reasons. first of all we know greece is small country, not as small as cypress but these things have a ripple effect. also the draconian nature of this. everyone watching this thinks their saving a
reacting to the deal where only the big money gets taxed? reporter: crazy stuff, shep. the president of cyprus was just on tv. he defended his actions and also asked the citizens of cyprus to stay calm. that could be difficult. they're grateful there in fact was a bailout put in place and bankruptcy was averted, but they're concerned about the high cost, not only that the banks shut down but a broader slowdown is feared, and the most worrying aspect of the deal, a seizure of private bank assets. it's true that the smaller depositors won't be touched, but when i talk to people in the streets, they're saying if the big guys can get hit. they will be hit next time. >> shepard: apparently not. the bank -- only the banks with big trouble are still shut town. when do they open? reporter: everything is closed down right now, shep. the word we're getting -- we had this confirmed -- many banks will open tomorrow. but there will be restrictions put in place. there is real fear of a run on those banks. and in fact they're already limits on atms if they have any cash, they can only come up with
doing something he hasn't done in almost 30 months. >>> plus, the irs spends your tax money on a star trek themed training video. and bill gates and condoms. the power block is next. oh, hi thehey!ill. are you in town for another meeting? yup, i brought my a-team. business trips add up to family time. this is my family. this is joe. hi joe! hi there! earn a ton of extra points with the double your hhonors promotion and feel the hamptonality. even in stupid loud places. to prove it, we set up our call center right here... [ chirp ] all good? [ chirp ] getty up. call me! seriously, this is really happening! [ cellphone rings ] hello? it's a giant helicopter ma'am. [ male announcer ] get it done [ chirp ] with the ultra-rugged kyocera torque, only from sprint direct connect. buy one get four free for your business. >>> bottom of the hour, i'm brooke baldwin. technology, sports, business, health, science and showbiz news the we're hitting it all for you right now in the power block beginning with this. cbs forced to say sorry for this scene in the amazing race. watch. >> here? oh, there.
a fault places the irs. they have tens of billions of tax losses they should be able to write off and they claim that is paying us back. gerri: that is cheating. >> it absolutely is. the sad thing is, it is allowed under accounting rules as an asset, certainly other banks it is not simply, think it is horrible policy. gerri: this is our money at the end of the day. they should have to repay it, if i owed the government that much money, believe me, i would be forced to repay every single dime. i would be in jail. what is interesting is there are lot of attorney general's calling for him to leave office. take a look at these names. the list goes on and on. there is a lot of anti-ed demarco effort out there. will they be successful? >> personally i find this kind of offensive. they put together a settlement that got more money for state governments that actually got foreclosed borrowers. many have been at the forefront of trying to stop the housing market from clearing, stop trying legitimate foreclosures and broad moratorium so this hasn't been about helping them leave. they have be
$9,000 taken out if they're indeed taxed at 6.75%. unlike greece they're not going to be seeing things like wages and pensions cut. so if this does happen in cyprus, it's going to be sort of quick and painful one-time event instead of a more prolonged agony, suzanne. >> are u.s. investors concerned about the possibility of a ripple effect? is that basically the idea? because cyprus is so small they could see this in many other places? >> exactly. that's what they're concerned about right now. europe is one of our biggest trading partners. if cyprus's situation starts to effect other european countries, that could easily ripple over to the u.s. and effect a stock rally that so many of us have profited from in our mutual funds, retirement plans and so on. one analyst says markets are calm for now but things could get bad quickly if this combines with any future crisis in the eurozone. we'll see what happens with the vote tomorrow. stocks seem to be mostly holding their own here. we're not seeing too much panic, suzanne. >> okay. that's good. zain, thank you. appreciate it. so the
with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ savor and explore, a the great indoors ♪ ♪ ♪ friskies indoor delights. ♪ feed the senses. ♪ the middle of this special moment and i need to run off to the bathroom. ♪ i'm fed up with always having to put my bladder's needs ahead of my daughter. ♪ so today, i'm finally talking to my doctor about overactive bladder symptoms. [ female announcer ] know that gotta go feeling? ask your doctor about prescription toviaz. one toviaz pill a day significantly reduces sudden urges and accidents, for 24 hours. if you have certain stomach problems or glaoma, or can not empty your bladd, you should not take toviaz. get emergency medical help right away if your face, lips,
? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. it's not what you think. it's a phoenix with 4 wheels. it's a hawk with night vision goggles. it's marching to the beat of a different drum. and where beauty meets brains. it's big ideas with smaller footprints. and knowing there's always more in the world to see. it's the all-new lincoln mkz. >>> time now to talk back. the question this morning, what did we learn from the iraq war? ten years ago tonight, president bush made this announcement to the nation. >> my fellow citizens, at this hour, american and coalition forces are in the early stages of military operations to disarm iraq, to free its people, and to defend the world from grave danger. >> saddam hussein's statue fell less than a month after the first tomahawk missiles were fired. in may o
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